 "Top trading calls by Chandan Taparia of Anand Rathi")
JUBILANT FOODWORKS: BUY
STOP LOSS: Rs 1,202
TARGET: Rs 1,277
The stock turned from crucial support near to oversold territory and snapped the losses of last five trading sessions with significant rise in volumes. It witnessed built up of long position with an open interest addition of around 10%. It is turning from the lower levels after taking support thus looks attractive in terms of risk reward ratio.
NIIT TECH : BUY
STOP LOSS: Rs 1,202
TARGET: Rs 1,277
The stock turned from crucial support near to oversold territory and snapped the losses of last five trading sessions with significant rise in volumes. It witnessed built up of long position with an open interest addition of around 10%. It is turning from the lower levels after taking support thus looks attractive in terms of risk reward ratio.
NIIT TECH : BUY
STOP LOSS: Rs 490
TARGET: Rs 530
The stock is moving near to major support zones after the recent correction from Rs 593 to Rs 432 levels. It snapped the losses of last five trading sessions, moved above its 200 DMA and negated the negativity of last six weeks. Major trend of the stock is positive and recent correction gives an opportunity to buy the stock at an attractive levels.
TARGET: Rs 530
The stock is moving near to major support zones after the recent correction from Rs 593 to Rs 432 levels. It snapped the losses of last five trading sessions, moved above its 200 DMA and negated the negativity of last six weeks. Major trend of the stock is positive and recent correction gives an opportunity to buy the stock at an attractive levels.
JSW STEEL: BUY
STOP LOSS: Rs 1,060
TARGET: Rs 1,135
The stock registered 52 weeks high and has given a breakout on daily and weekly chart. It crossed the series high of Rs 1,100 zones and has been making higher highs – higher lows from last six trading sessions. It is trading above its moving averages with better rollover activities and its support base is shifting to higher levels.
STOP LOSS: Rs 1,060
TARGET: Rs 1,135
The stock registered 52 weeks high and has given a breakout on daily and weekly chart. It crossed the series high of Rs 1,100 zones and has been making higher highs – higher lows from last six trading sessions. It is trading above its moving averages with better rollover activities and its support base is shifting to higher levels.
VEDANTA: SELL
STOP LOSS: Rs 70
TARGET: Rs 60
The stock has been falling from last four weeks and is not ready to recover even after the recovery in the broader market. It failed to cross immediate hurdle of 68 and the weakness may sustain in the counter for next coming sessions. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards new multiple year low of 60 and even much lower levels.
STOP LOSS: Rs 70
TARGET: Rs 60
The stock has been falling from last four weeks and is not ready to recover even after the recovery in the broader market. It failed to cross immediate hurdle of 68 and the weakness may sustain in the counter for next coming sessions. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards new multiple year low of 60 and even much lower levels.
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.